Could Investing $10,000 in NOBL Make You a Millionaire?

Investing in dividend stocks can be a good strategy for people who want to earn income from their stock portfolio. The best high-yield dividend stocks can also deliver strong growth. Though there are no guarantees in investing, some exchange-traded funds (ETFs) investing in dividend stocks, like the ProShares S&P 500 Dividend Aristocrats ETF (NYSEMKT: NOBL), could even make you a millionaire -- if you're a patient, long-term investor. (The term Dividend Aristocrats^® is a registered trademark of Standard & Poor's Financial Services LLC.)

This dividend ETF lets you invest in the S&P 500 Dividend Aristocrats^®, a select group of companies that have grown their dividends for more than 25 years. As of December 2025, the fund paid a dividend yield of 2.55%.

Let's see how $10,000 in NOBL could become a million-dollar investment.

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12 years of 11% average annual returns

The ProShares S&P 500 Dividend Aristocrats ETF invests in a portfolio of 69 stocks and charges an expense ratio of 0.35%. Since the fund was established in October 2013, it's delivered average annual returns (by net asset value) of 11.1%. That's slightly better than the long-term average stock market return of 10% per year.

But in the past year, NOBL has underperformed the S&P 500 index, gaining only 2.8% while the S&P 500 has gained about 15%. This fund has also underperformed the S&P 500 since its inception. Since October 2013, the S&P 500 is up about 292%, while this ETF has gained about 156%.

NOBL data by YCharts

So, why invest in this fund if it can't beat the S&P 500? You might consider this fund if you want to own stocks that typically deliver stable earnings and have strong track records of paying dividends. A dividend ETF like NOBL might also be less volatile than the rest of the S&P 500.

The NOBL fund's sector weighting is broadly tilted toward consumer staples (23.8% of the fund), industrials (21.2%), financials (12.2%), materials (11.4%), and healthcare (10.1%). Top holdings include energy stocks Chevron (1.8% of the fund), ExxonMobil (1.8%), and NextEra Energy (NYSE: NEE) (1.7%); as well as chemical company Linde (NASDAQ: LIN) (1.7%).

How $10,000 in NOBL could make you a millionaire

Even if this dividend-stock fund doesn't outperform the S&P 500, it could still make you a millionaire. Turning $10,000 into $1 million would require a 9,900% jump.

Let's assume that NOBL keeps delivering its average annual return of 11.1%. At that rate of growth -- which is not guaranteed -- if you invest $10,000 in NOBL today, after 20 years, your money would grow to about $82,000. After 25 years, you'd have about $139,000. And after 44 years, your $10,000 NOBL investment would have reached over $1 million in this hypothetical example.

Does that feel like too long to wait? Another approach would be to start by investing $10,000 in NOBL and then keep investing $500 per month. With average annual returns of 11.1%, you'd reach the million-dollar mark after 27 years. While future performance is not guaranteed and it would not be wise to put all your investing eggs into one security, owning top dividend stocks can be very rewarding. The ProShares S&P 500 Dividend Aristocrats^® ETF is worth considering for long-term investors.

Ben Gran has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Chevron, NextEra Energy, and ProShares S&P 500 Dividend Aristocrats ETF. The Motley Fool recommends Linde. The Motley Fool has a disclosure policy.